Deutsche Bank Aktiengesellschaft Downgrades Smith & Nephew (NYSE:SNN) to Hold

Smith & Nephew (NYSE:SNN) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Briefing.com reports.

Separately, StockNews.com upgraded Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Smith & Nephew has a consensus rating of “Moderate Buy”.

Smith & Nephew Stock Performance

Shares of NYSE SNN opened at $25.09 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.51 and a debt-to-equity ratio of 0.63. Smith & Nephew has a one year low of $21.97 and a one year high of $31.72. The business’s fifty day moving average price is $30.09 and its 200-day moving average price is $27.78.

Institutional Trading of Smith & Nephew

A number of hedge funds and other institutional investors have recently made changes to their positions in SNN. Lorne Steinberg Wealth Management Inc. increased its stake in Smith & Nephew by 53.6% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 231,045 shares of the medical equipment provider’s stock worth $5,725,000 after acquiring an additional 80,650 shares during the last quarter. Clearbridge Investments LLC bought a new position in Smith & Nephew in the 1st quarter worth about $2,612,000. Sanctuary Advisors LLC bought a new position in Smith & Nephew in the 2nd quarter worth about $627,000. Tocqueville Asset Management L.P. increased its stake in Smith & Nephew by 294.9% in the 1st quarter. Tocqueville Asset Management L.P. now owns 224,441 shares of the medical equipment provider’s stock worth $5,692,000 after acquiring an additional 167,599 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Smith & Nephew by 355.8% in the 2nd quarter. Bank of Montreal Can now owns 1,235,916 shares of the medical equipment provider’s stock worth $31,059,000 after acquiring an additional 964,762 shares during the last quarter. 25.64% of the stock is currently owned by institutional investors.

Smith & Nephew Company Profile

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.